Revolut is now UK’s largest fintech firm

At £24bn valuation, Revolut is now UK’s largest fintech firm

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In this blog, we curate relevant and remarkable content related to digital banking, fintech and high-performance banking leaders. This piece by The Guardian reports that banking app Revolut has raised $800m from new investors Tiger Global Management and SoftBank. Read on.

“The banking and payments app Revolut has become the most valuable British fintech firm on record after a fresh funding round pushed its valuation to $33bn.

The company, founded by the former Lehman Brothers trader Nik Storonsky in 2015, announced on Thursday that it had raised $800m (£579m) from new investors Tiger Global Management and the major Japanese investment group SoftBank, which now hold a near 5% stake in the business.

It means the London-headquartered company is worth $33bn (£24bn), which is six times higher than last year, when it was valued at $5.5bn.”

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